Product Innovation and Process Innovation – Characteristics, Differences and Examples
Innovation is a comprehensive concept that can not be defined by using a singular factor. We mentioned concept, precisely because innovation can be seen as a process, mentality, culture, technology, human resources and many other notions that are at the basis of it.
We have tried to cover as many notions as possible in the article Everything You Need to Know About Innovation – The Innovation Process and Types of Innovation. There, we have presented various types and approaches to innovation, together with examples of innovation, from different perspectives such as: the object of innovation, the market’s evolution, how severe can innovation be, its effects and many others.
If in that article we have broadly presented the phenomenon, today we are going to talk about two types of innovation – product innovation and process innovation. These two categories are regularly present on the market, these days, being part of an approach to innovation that is based on its objective.